Del Sette Capital Management LLC Has $364,000 Position in Snowflake Inc. $SNOW

Del Sette Capital Management LLC lowered its stake in Snowflake Inc. (NYSE:SNOW) by 88.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,660 shares of the company’s stock after selling 12,983 shares during the quarter. Del Sette Capital Management LLC’s holdings in Snowflake were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in Snowflake by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock valued at $165,123,000 after purchasing an additional 8,002 shares during the last quarter. Federated Hermes Inc. raised its position in Snowflake by 13.5% in the 3rd quarter. Federated Hermes Inc. now owns 408,037 shares of the company’s stock valued at $92,047,000 after purchasing an additional 48,411 shares during the last quarter. Assetmark Inc. raised its position in Snowflake by 99.1% in the 4th quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock valued at $43,577,000 after purchasing an additional 98,870 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after buying an additional 2,519,413 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at $116,882,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 3.5%

Shares of Snowflake stock opened at $141.28 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $280.67. The business has a fifty day simple moving average of $158.11 and a 200 day simple moving average of $203.04. The stock has a market cap of $48.84 billion, a PE ratio of -35.77 and a beta of 1.08.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. Research analysts predict that Snowflake Inc. will post -2.16 EPS for the current year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 2,621 shares of Snowflake stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $170.01, for a total transaction of $445,596.21. Following the completion of the sale, the executive vice president directly owned 533,494 shares of the company’s stock, valued at $90,699,314.94. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vivek Raghunathan sold 3,876 shares of Snowflake stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total value of $592,252.80. Following the sale, the senior vice president directly owned 273,323 shares of the company’s stock, valued at approximately $41,763,754.40. This trade represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 394,313 shares of company stock valued at $67,477,780 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNOW. Stifel Nicolaus set a $205.00 target price on Snowflake in a research note on Thursday, February 26th. Scotiabank lowered their target price on Snowflake from $290.00 to $205.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 26th. The Goldman Sachs Group lowered their target price on Snowflake from $286.00 to $246.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Monness Crespi & Hardt lifted their target price on Snowflake from $275.00 to $282.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Oppenheimer reissued a “buy” rating on shares of Snowflake in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $242.19.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.